The federal government must spend less and spend better to balance the budget. A key target is defence spending, which has grown rapidly to some $60 billion per annum today. This paper shows that, with prompt government action, spending less and better could meet defence needs while saving up to $160bn and years of delay.

The strategy establishes the strategic policy settings for Defence’s engagement with Australia’s defence industry. These settings reflect the changing strategic circumstances and deliver the initiatives required to develop Australia’s sovereign defence industrial base in support of its national security requirements. The strategy sets three outcomes for Defence and industry to achieve.

This paper proposes that the cost of AUKUS is unknown. From the available estimates, it appears that the cost will average in the low tens of billions each year. The paper concludes that the AUKUS submarine deal has not been justified; it is for the Government to explain how it will be paid for.

This report discusses the failure of Western military institutions, including in Australia, to learn from modern wars, while other countries do. The paper’s five recommendations address culture change, promotion reform, AI-enabled learning, rapid drone capability development, and acquisition reform.

Australia’s 2026–27 Defence Budget commits the Commonwealth to spending approximately $181.9 million on defence every day. This report examines the Australian Government’s progress with, and spending on, the 2026 National Defence Strategy and the updated Integrated Investment Program. The series has, year after year, assessed what governments said they would do against what the books...